Final GDP reading shows US economy shrank 0.6% in the spring, cementing start of recession
The Commerce Department said its final reading of second quarter gross domestic product data on Thursday shows the economy shrank 0.6% in the spring, indicating the start of a recession.
Final GDP reading likely to confirm US economy entered a recession in the spring
The Commerce Department will release the third and final estimate of Q2 GDP on Thursday, providing evidence over whether the economy is in a recession.
The Fed's war on inflation could cost the US economy 1M jobs
The Federal Reserve would eliminate at least 1 million jobs as it tries to rein in runaway inflation with the most aggressive interest rate hikes in decades.
US economic downturn could get 'very serious' as Fed risks crushing demand with rate hikes: Judy Shelton
Former Federal Reserve Board nominee Judy Shelton offers insight into the Fed's strategy to combat inflation, warning the crisis could become more 'serious.'
Goldman raises Fed rate hike forecast after Powell's hawkish stance
The Federal Reserve is likely to hike interest rates even more aggressively than initially believed as they try to combat inflation, according to Goldman Sachs economists.
Jobless claims rise to 213,000 after declining for five weeks straight
Applications for unemployment benefits rose last week from a four-month low, suggesting that employers are still avoiding layoffs in the historically tight labor market.
Fed's Powell abandons promise of 'soft landing' amid inflation fight
Federal Reserve Chairman Jerome Powell conceded on Wednesday that the chances of avoiding a recession have diminished as the central bank raises interest rates.
How steep Fed rate hikes affect your finances
The Federal Reserve increased interest rates once again to the 3% to 3.25% range. This has many ramifications for consumers and their purchasing activities.
Federal Reserve raises interest rates by 75 basis points for third straight month
The Federal Reserve enacted its third consecutive 75-basis-point interest rate hike as it attempts to cool inflation without triggering an economic recession.
Fed likely to deliver more economic 'pain' with another significant interest rate hike
The Federal Reserve is likely to approve the third straight 75-basis-point interest rate hike on Wednesday as it further intensifies its war on inflation.
Another jumbo Fed rate hike poised to add $2.1T to national debt, CRFB says
As the Federal Reserve raises interest rates to fight inflation, the federal government's borrowing costs on its nearly $31 trillion in debt are expected to skyrocket.
Fed unlikely to cut interest rates until 2024, Goldman Sachs says
Goldman Sachs economists see the Federal Reserve raising interest rates until 2023 to a range of 4.25% to 4.50% and then holding there for a year as they fight inflation.
Consumer sentiment rises less than expected in September
The University of Michigan's consumer sentiment index rose less than expected in September as Americans' confidence in the economy remains near a historic low.
Nomura forecasts historic 100-basis-point Fed rate hike after hot inflation data
Hotter-than-expected inflation data released this week could force Federal Reserve policymakers to take historic action and approve a 100-basis-point interest rate hike.
Wholesale inflation declines in August, but prices remain near multi-decade high
The producer price index, which measures inflation at the wholesale level before it reaches consumers, remains at a multi-decade high, the Labor Department said on Wednesday.
Surprisingly hot August inflation data solidifies odds of another jumbo Fed rate hike
August inflation data came in hotter than expected, raising the odds of an even more aggressive Federal Reserve interest rate hike when policymakers meet next week.
Inflation rose faster than expected in August, keeping prices painfully high
The Labor Department released the latest inflation data set on Tuesday, revealing just how hot consumer prices ran in August as the Fed tries to cool the economy.
High-stakes inflation report expected to show prices slowed in August but remain elevated
The August inflation data out Tuesday morning is expected to show that consumer prices slowed in August, but that likely won't be enough to mollify the Federal Reserve.
Americans' inflation expectations dropped again in August, New York Fed says
The New York Federal Reserve released a new survey on Monday revealing that American households expect inflation to cool slightly over the next three years.
Billionaire David Rubenstein warns inflation will be 'difficult' for the Fed to reduce
David Rubenstein, the multibillionaire co-founder of The Carlyle Group, thinks the Federal Reserve will face difficulty in bringing down high inflation.